Chapter Five: Lesson 5
100
The phone rang hard and heavy. Prospective buyers were screened
and once the property was legally mine, all the prospective buyers
were allowed to look at the house. It was a feeding frenzy. The house
sold in a few minutes. I asked for a $2,500 processing fee, which
they gladly handed over, and the escrow and title company took over
from there. I returned the $2,000 to my friend with an additional
$200. He was happy, the home buyer was happy, the attorney was
happy, and I was happy. I had sold a house for $60,000 that cost me
$20,000. The $40,000 was created from money in my asset column
in the form of a promissory note from the buyer. Total working time:
five hours.
So now that you are on your way to becoming more financially
literate and skilled at reading numbers, I will show you why this is
an example of money being invented.
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